Technology took its toll, and now we do almost everything online, including gambling. Traditional online casinos have been trying to keep up with the trends, especially regarding payment methods. Some gambling establishments stick to the good-old fiat currency, while other online casinos have implemented some significant changes regarding banking. This past decade we’ve been introduced to an unfamiliar form of money, the bitcoin. With its value growing and gaining its trust amongst online traders, bitcoin has become a valuable resource for online banking and transfer.
With technology on the rise and players leaning more towards electronic forms of payment, it’s useful to know all the options available as well as their advantages and disadvantages. BTC is the future of finance and electronic money transfer. Let’s learn more about bitcoin casinos and how they work.
About Bitcoin Casinos
As online operators are spreading and the competition is growing stiff, slots sites in the UK are doing their best to stand out. Payment methods aren’t excluded. So, it’s more and more common to see crypto becoming more popular, including bitcoin casinos as well. To become a Bitcoin gambling site and gain the reputation of a crypto casino, operators add Bitcoin to the already familiar banking options such as debit cards, wire transfer, and eWallets. This addition only broadens the field of payment methods for UK gamblers and this way they can enjoy bitcoin casino no deposit bonuses, bitcoin poker, and many more from the selection of games at btc gambling sites.
Bitcoin is a cryptocurrency which means it operates strictly online, doesn’t cooperate with any bank, and makes peer-to-peer communication much easier. Like any other currency, it fluctuates in value, but experienced users can predict its highs and lows and share them on some bitcoin gambling sites.
The trail of transactions from one device is locked inside a blockchain. It’s a safe, unchangeable electronic path that is impossible to cheat or reroute. Once submitted, a transaction is irreversible, untraceable to identity, and locked inside the blockchain. These characteristics of bitcoin itself are what make it suitable for gambling.
Best Bitcoin Slots in the UK
Bitcoin usage is slowly taking over the world. The once unknown online exchange has proven its worth and now cryptocurrency slot sites are a must on the common player’s list. When a casino accepts BTC as an option of payment, especially in the UK, it broadens the spectrum of payment options for gamblers on online casino sites.
UK bitcoin casino slots have evolved drastically into fitting their users’ needs. Nowadays, every bitcoin casino prides itself on accepting almost every form of bitcoin deposit available. They offer a vast array of casino games and bitcoin slots to play, using your deposit made by any bit wallet of your choosing. So what are the best casino games to play when you play at your best Bitcoin casino?
- Aztec Magic Deluxe by bGaming
- Elvis Frog in Vegas by bGaming
- Wild Spin Slot by Platipus Games
- Book of Cats by bGaming
- Four Lucky Diamonds by bGaming
Using bitcoin in any of these bitcoin casinos is extremely simple. Depending on the casino you choose to play these online slots at, they offer bonuses and promotions, as well as free spins on various bitcoin slots that are available when depositing with bitcoin.
Why Use Bitcoin at New Casino Sites in the UK
Considering everything we know about bitcoin, its rapid rising and its potential fall, UK gamblers might be a bit skeptical about using it. However, this might be the best option for online gambling out of all payment alternatives, especially at new UK slot sites.
Fast and secure method for online transfer
Using bitcoin cash when gambling at your trusted bitcoin casino is probably the safest way to deposit money in an online casino. The only personal information the gambler provides is their bitcoin key, used to draw money from their account. Once the transaction is made, it is locked and secured by the blockchain and buried under terabytes of encryption software, making it secure.
Use bitcoin to earn more bitcoin
As we know, the value of bitcoin varies. Sometimes for the worse and sometimes for the better. Betting in bitcoin means you can withdraw more of it because its worth can increase the next day. However, this is not certain as its value might fluctuate.
Cryptocurrency is more liquid
The attribute liquid implies that it can be translated into other land-based currencies, also known as fiat currencies, more easily. This advantage makes it easier for the user to convert bitcoin into tangible money, as well as the casino to convert bitcoin into “real” currencies.
Disadvantages of Gambling with Bitcoin
Bitcoin is a great option when it comes to easy gambling, without the inconvenience of putting a lot of personal information on the site. However, it has its own disadvantages.
- It is very volatile
- Being anonymous it’s a target for scammers
- It is still a work in progress
Bitcoin is very volatile
Bitcoin is a very volatile currency. It’s worth changes much faster than money and fluctuates day to day. Gamblers’ biggest concern is that the value of bitcoin would plummet so low that the investment they made would cost them money instead of earning them keeps.
Being anonymous it’s a target for scammers
Being unregulated and completely anonymous, it’s a common target for scammers. As it’s practically impossible to find the identity of the scammer, the likelihood of them being caught and held accountable is minuscule.
Bitcoin is still a work in progress
As bitcoin is fairly new, it succumbs to changes on a daily basis. Even though bitcoin runs on over 10 thousand nodes around the world, sometimes its changes might be too much to handle. There’s when the scalability issues come to play. Due to the rapid change, bitcoin may be overwhelmed by the number of transactions going through it daily and might prolong the time of the transaction.
How to Gamble with Bitcoin in 2023
Nowadays, a lot of payment options are available to use on online gambling sites. Bitcoin casinos are taking the world by storm and aren’t far back from other forms of online money transfer. More and more UK players have realized the potential of this funds exchange, and it’s becoming a preferred method of payment for many.
The fact that no personal information is required and it being decentralized and very simple to use makes Bitcoin one of a kind. Still, what do you need to know before opening a bit wallet and using those funds in one of the best bitcoin casino sites?
Setting up a Bitcoin Wallet
Setting up a wallet is as easy as registering for any other app on your phone. Most of them are downloadable via Android or iOS, meaning they’re available with any operating system. Depending on whether you’d like someone to keep your account safe, known as a “custodian,” you can open a hosted or a non-custodial wallet. The hosted one is protected by a two-step verification for a higher level of security. There’s a difference between setting up a hosted or non-custodial wallet.
Setting up a hosted wallet
There are two simple steps to complete in order to successfully set up a hosted wallet.
- Pick out a platform you choose to use
- Set up an account
The hosted one requires picking out a platform that is in sync with your safety preferences and government regulations. The second thing you need to do is set up an account on a platform of your choice. All that’s left to do now is add bitcoin cash to your account. You can either buy crypto using your bank account, and if you already own bitcoin cash, you can transfer it into your account. Hosted wallets provide more security because there is a third party looking over your account. That way, if you ever lose your bit wallet key, you’ll be able to restore it safely and have your funds brought back. A hosted account is also protected by a 2-step verification code, making it safer to use.
Setting up a non-custodial wallet
Setting up a non-custodial wallet is straightforward and the following steps are required.
- Download a bit wallet app
- Set up an account
- Transfer crypto into your account
The non-custodial bit wallets require downloading an app on your phone, setting up an account, and transferring bitcoins into your account. Keep in mind that with non-custodial wallets, you’re in charge of the safety key, and if by any chance it gets lost, you lose all your bitcoin and its worth.
How to Deposit at Bitcoin Online Casinos
Most casinos have an option of depositing with bitcoin. Paying by bit wallet isn’t any different or more difficult than paying with any other transfer option. All you need for an online funds transfer, including bitcoin, is an account and a suitable form of payment, and you’re set up to play any of the casino games available.
- Set up an account
- Click the “Cashier” button
- Click on “Methods of payment”
- Choose Bitcoin
- Verify your key
- Put down the deposit value
Depositing by crypto in bitcoin casinos doesn’t require any personal information like name or bank account as neither of those are needed for registering for a bit wallet.
How to Withdraw Winnings at Bitcoin Online Casinos
Withdrawing your winnings from a bitcoin casino is just as easy as depositing there. In fact, it’s the reverse process.
- Click “Cashier”
- Ask to withdraw
- Pick bitcoin as the preferred method of cashout
- Enjoy your earnings
Cashing out winnings from online casino games is pretty straightforward, but if you somehow struggle with the process, you can contact customer support and they will walk you through every step.
Mobile BTC Casinos
We cannot pick out a favorite amongst the best bitcoin gambling sites. However, we can guide you in the right direction to find what you’re looking for. New UK casinos offer exciting slot games to play when depositing via cryptocurrency, all brought by trustworthy game providers, especially bGaming, the world’s first crypto games creator.
Slot games are available on most of the newer and more prestigious bitcoin casino sites. If you’re looking to have a good time at a bitcoin casino, you can use Energy Casino, NetBet, AHTI Games, Yako Casino, Hyper Casino, Fun Casino, and many more. At these bitcoin casinos, you can play anything from table games, slots, live dealer games, dice games as well as bitcoin poker games, video poker, and live casino games. They offer amazing customer support for any questions you may have while gambling.
All of these have the option of depositing and withdrawing using bit wallet and offer a special deposit bonus when doing so.
Bitcoin Casino Bonuses
Most of the best bitcoin casino bonuses come as a prize when depositing a certain amount of funds into your bitcoin casino account. Even though an exclusive first deposit bonus is hardly to be offered at a crypto casino, all the other bonuses and promotions provided are profitable at the best bitcoin casinos.
Energy Casino, one of the many best bitcoin casinos, offers a welcome bonus when registering. Depending on the worth of the deposit, it can go up to 100% of your value for amounts under £200. Also, for every deposit of £10, free spins may be offered.
NetBet, one of the oldest bitcoin casinos, offers a variety of bonuses. On registration, you are greeted by up to 200£ prize and 10 free spins welcome bonus with your first deposit. Apart from their attractive first deposit bonus, they have a progressive jackpot, monthly specials, daily games, free spins on certain games, and so on.
AHTI Games offers a welcome bonus of 100 free spins with the first deposit. The minimum deposit is £10, and there is no upper limit. This bitcoin casino is home to a variety of provably fair games, such as table games, jackpot slots, and live casino games brought by the most prestigious game providers.
Yako Casino offers a symbolic 99 free spins on Starburst and 100% of your deposit as a welcome bonus with the first payment of up to £99. Yako Casino also prides itself in its vast game library, including slot games, video poker, live table games, a version of bingo called Slingo, and many more.
Safety & Security of Bitcoin
Being a digital funds transfer option, a lot of people were and still are skeptical when it comes to using bitcoin. Bitcoin casino reviews show that a provably fair online casino wouldn’t dare losing its customers due to the insecurity of the payment options it provides. So, keep in mind that:
- Bitcoin is double verified
- Bitcoin is backed by blockchain
- Bitcoin transactions are public
- Bitcoin is decentralized
Bitcoin is secured with a double verification code that only the owner has access to, meaning you are the only one who can operate the account. This goes for both hosted and non-custodial accounts.
Bitcoin is backed by blockchain, as special financial software that uses hashes as signatures to verify your irreversible transaction.
It is is public, meaning everyone can see the transactions made. However, because no personal information is provided on the account, the key is the only identification niche to the user.
Bitcoin is also decentralized, which means it’s not tied to any other financial institution. It has over ten thousand nodes that interact with each other to protect the transaction. This would make hacking into any one of those nodes futile and impossible.
Top Tips for Wagering at Bitcoin Sites
Even though gambling with bitcoin is relatively simple, you would want to check every nook and cranny for possible loopholes in the Terms and Conditions. It’s always good to do thorough research on the site before registering and depositing. Here are some tips that can make your gambling experience safer and more enjoyable.
- The currency you use to play with shouldn’t affect the provably fair games you are playing. If, by any chance, this payment method interferes with the gameplay, it should be stated in the casino’s T&C or easily explained by customer support.
- Take your time to educate yourself on how bitcoin works before using it to gamble.
- Make sure you double-check every transaction as everything that goes through the blockchain is final and cannot be reversed.
Before you make a deposit in any top online slot sites, make sure you are familiar with its terms and conditions. Double-check any information, from your bit wallet key to the number of funds deposited and withdrawn.
Alternatives to Bitcoin
If all of this sounds like it’s more than you can chew, online casino sites offer other payment options that can make you more comfortable. Disregarding the traditional debit cards such as Visa and MasterCard, eWallets are a good alternative for making online deposits. Most sites accept Skrill, PayPal, Neteller, etc.
Here’s a breakdown of some of the top payment methods for UK slot players in 2023.
PayPal– PayPal is an online wallet that’s been on the market since 2002. Launched in the US, this payment option is accepted in almost all online gambling sites. The deposit is taken from your account immediately, and withdrawals are also instant making PayPal casinos the most popular for slot players.
Skrill– Skrill at slot sites is used as an online transfer system. Using this method is as easy as any other eWallet. All you have to do is pick this option in the “Cashier” option the site has, and the deposits will be made instantly.
Neteller– Neteller is also accepted into almost all online sites in 2023. Neteller slot sites are everywhere in this day and age. Making deposits and withdrawals with this eWallet is speedy, secure, and highly reliable.
Frequently Asked Questions
How to use Bitcoin when gambling?
First, you have to open a bitcoin wallet. Then on the “Cashier” button of the site, choose bitcoin as a method of payment. Make sure the key matches and no additional personal information are required to start playing.
Do UK mobile casinos take Bitcoin?
Not all online UK casinos accept Bitcoin as a method of payment, but there’s a fair amount of bitcoin casinos that do. Make sure you do your research on whether you can use your bit wallet to make deposits and withdrawals.
What are the advantages and disadvantages of gambling with Bitcoin?
There are a few of both. It’s a very secure payment option that doesn’t require a lot of information, although it can not be widely available, and it’s highly volatile. If you want to find out more on ups and downs when gambling in bitcoin casinos, read the upper mentioned.
What are some alternatives to Bitcoin when gambling online?
Online gambling casinos offer a variety of payment alternatives. If an online transfer is your preferred option, most of them accept PayPal, Skrill, NETeller, and other eWallets.